SPX Flow (NYSE:FLOW) Downgraded by Zacks Investment Research to Hold

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Zacks Investment Research cut shares of SPX Flow (NYSE:FLOW) from a buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “SPX FLOW, Inc. is a supplier of engineered flow components, process equipment and turn-key systems, along with the related aftermarket parts and services. The Company’s operating segment consists of Food and Beverage, Power and Energy and Industrial. Food and Beverage segment offers mixing, drying, evaporation and separation systems and components, heat exchangers and reciprocating and centrifugal pump technologies. Power and Energy segment primarily serves oil and gas industry and nuclear and other conventional power industries. Industrial segment primarily serves chemical, air treatment, mining, pharmaceutical, marine, shipbuilding, infrastructure construction, automotive and water treatment industries. SPX FLOW, Inc. is based in Charlotte, North Carolina. “

Separately, ValuEngine cut Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $41.83.

SPX Flow stock opened at $39.12 on Wednesday. SPX Flow has a 12 month low of $27.23 and a 12 month high of $54.13. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.53 and a quick ratio of 1.05. The business’s 50 day moving average is $38.44. The stock has a market capitalization of $1.60 billion, a PE ratio of 16.86, a PEG ratio of 1.62 and a beta of 2.03.

SPX Flow (NYSE:FLOW) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.05. SPX Flow had a return on equity of 10.42% and a net margin of 2.30%. The business had revenue of $491.10 million during the quarter, compared to analysts’ expectations of $482.11 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts expect that SPX Flow will post 2.54 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund raised its position in SPX Flow by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 16,481 shares of the industrial products company’s stock worth $526,000 after acquiring an additional 298 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of SPX Flow by 14.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,384 shares of the industrial products company’s stock valued at $103,000 after buying an additional 429 shares in the last quarter. Mason Street Advisors LLC increased its position in shares of SPX Flow by 3.4% in the first quarter. Mason Street Advisors LLC now owns 13,666 shares of the industrial products company’s stock valued at $436,000 after buying an additional 451 shares in the last quarter. Neuburgh Advisers LLC increased its position in shares of SPX Flow by 10.0% in the fourth quarter. Neuburgh Advisers LLC now owns 5,082 shares of the industrial products company’s stock valued at $155,000 after buying an additional 462 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. increased its position in shares of SPX Flow by 5.7% in the first quarter. Piedmont Investment Advisors Inc. now owns 10,692 shares of the industrial products company’s stock valued at $341,000 after buying an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

SPX Flow Company Profile

SPX FLOW, Inc provides various engineered solutions worldwide. It operates in three segments: Food and Beverage, Power and Energy, and Industrial. The Food and Beverage segment offers mixing, drying, evaporation, and separation systems and components; heat exchangers, and reciprocating and centrifugal pump technologies; and turn-key systems primarily under the Anhydro, APV, Bran+Luebbe, Gerstenberg Schroeder, LIGHTNIN, Seital, and Waukesha Cherry-Burrell brands.

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